Want To Retire Someday……Do Some Succession Planning First!

Business Succession Planning Key to a Successful Retirement

You don’t even have to have a formal plan, although doing one is better than not doing one. What you do need to do is make sure you know what you need if you ever want to be able to leave your business.

Too often I see people like you tell me retirement is five years away. If it’s always five years away, you have a problem. That problem is you know there are things you need to do, you just don’t know what they are.

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Read this article from Mass Mutual to see what you’re missing

If you’re a business owner and you are thinking about retirement, then you need to start thinking about succession planning. It’s critical to the best interests of your family and your finances. It’s also critical to the success of your successor.

However, thinking about business succession and acting on it all too often don’t go together. A 2015 MassMutual study indicates that more than 50 percent of business owners do not have a succession plan in place. Equally troubling is the fact that about one in five successors, those that the owner has targeted to take over his or her company, do not know that they are in the succession plan. (Video: Business Succession Planning)

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About Josh

Why would you want to listen to me?

My specialty is working with owners of private businesses. It’s where I have the most interest and can add the most value. If you own a business and are interested in a coaching relationship as well as mentoring, I’m your guy.
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ABOUT JOSH PATRICK

My main focus in life is helping private business owners create a sustainable business that will last past them. I help create great outcomes using life experiences I’ve had during my almost forty years of running and being around my favorite people, private business owners. I’m a student, an entrepreneur and a curious observer of life. Read More